Updated Dec 4, 2024
Joe Rubin & Richard Shuster Purchase Multifamily Property In Jacksonville For $31.75M
1601 Dunn Avenue & 5928 Firestone Road
$31,750,000
$56/SF
Building Size
282,577 SF
Asset Type
MultiFamily
Closing
Mar 1, 2024
About this deal
AI
The multifamily property located at 1601 Dunn Avenue and 5928 Firestone Road in Jacksonville was sold for $31,750,000. This property spans 282,577 square feet and consists of 328 units, resulting in a price per unit of $96,799 and a price per square foot of $112.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,750,000
- Units: 328
- Square Footage: 282,577
- Price per Unit: $96,799
- Price per Square Foot: $112
- Address: 1601 Dunn Avenue & 5928 Firestone Road, Jacksonville
- Market: Jacksonville
- Buyer: Joe Rubin & Richard Shuster - Southeast Property Group
- Seller: Capital Property Partners
- Brokers: Daniel Rahmani & Rubens Jourdan - Capital Property Partners
The buyer, Joe Rubin, and Richard Shuster of Southeast Property Group acquired the property from Capital Property Partners at the specified all-in price. The deal was facilitated by the brokers Daniel Rahmani and Rubens Jourdan from the selling entity, Capital Property Partners.
Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Rubens Jourdan to view all their deals.
Browse Jacksonville multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93